>> It's the guessing game Silicon Valley and Wall Street investors love to play every time a new iPhone comes out. How well, or not so well is the latest device selling. A report out of Japan putting shares of Apple on the run Monday at one point down, more than 2%, making the stock the worst performer in the DOW.
According to Japan's Nikkei, Apple is reportedly slashing production of the iPhone X in half for the current quarter to around 20 million units due to lackluster demand. Holiday sales fell shy in the US, Europe, and China according to the report, without naming any source. Apple did not immediately respond to Reuters request for comment.
Ever since Apple started selling the $999 special tenth anniversary iPhone in November, there's been concern the price tag was too steep. Just last week, Verizon said device activations were down compared to a year ago because customers were keeping their older models longer. And analysts have been lowering their shipment expectations for the high end phone.
Citing the price and surveys showing fewer people are considering an upgrade. All this fear could be premature, though. Apple has proven to lay waste to such speculation in the past. The mystery will be over Thursday. That's when Apple releases its latest quarterly results.